ISM3004 Exam 1 (Scavenger Hunt 1-3) verified answers and questions 2023.

ISM3004 Exam 1 (Scavenger Hunt 1-3) verified answers and questions 2023. What is disruption? - correct answers."To cause something to be unable to continue in its normal routine" this can be either a treasure or a tumult Technology is a disruptor - what does that mean? - correct answers.Tech creates both treasure and tumult. These disruptions will accelerate, impact organizations, careers, and job functions throughout your lifetime. Technology has caused normal routines to change completely Advertising - correct ads are practically out, Google alone has more ad revenue than all of print Causing the trust of ads to decrease Education - correct answers.Online classes/Universities are taking away from the "traditional" schooling Financial Services - correct answers.Majority of banking can be done via apps Credit Card Machine - "Square" Journalism - correct answers.Professional writers aren't being hired by news companies, because they hire external bloggers Wikileaks Retail - correct answers.Traditional stores taking a hit by online shopping companies Share Economy - correct answers.Alternative ways to hotels, music, rental cars, taxis For video rentals, music industry, and higher education be able to explain... What was the normal way of doing business? - correct answers.Go to a brick and mortar store like Blockbuster, which included uncertainty, long lines, and late fees For video rentals, music industry, and higher education be able to explain... What was the tech change? - correct answers.Netflix came with "same but different" change. It implemented highly efficient distribution centers which shipped and received videos. Their entire catalogue and recommendations were all on their website. The way the content was delivered changed. Netflix recognized that CD's weren't the future, so changed to streaming media across the internet What was the treasure outcome for some and what was the tumult outcome for others? Video Rentals - correct answers.Treasure Outcome: Netflix Tumult Outcome: Blockbuster Netflix is one of the highest grossing streaming platforms and Blockbuster only has one store left globally What was the treasure outcome for some and what was the tumult outcome for others? Music Industry - correct answers.Treasure Outcome: Digital music platforms (iTunes, Spotify) Tumult Outcome: Physical music But in terms of whole album sales, physical music is the treasure and digital music is the tumult because most people don't digitally buy an entire album, they usually only buy a single song What was the treasure outcome for some and what was the tumult outcome for others? Higher Education - correct answers.This is both a treasure and tumult for the universities that are willing to adapt to changes in technology because it allows them to have more students no matter where the students are; however, it also means that there may be a time where physical universities are only available to people who are well off or won't exist at all. Be able to define the term "share economy" and give an example. Share Economy - correct answers.Refers to a phenomenon whereby asset owners can use digital clearinghouses to rent the unused capacity of assets they own and consumers rent from their peers rather than buying or renting from a company How does IT bring asset owners and consumers together in the share economy? - correct answers.By using Digital Clearinghouses to rent from their peers instead of companies. How is the share economy disruptive? - correct answers.It disrupts the new normal between consumers and rental businesses. Briefly explain four key factors causing these disruptions: Moore's Law ...and who is the tech pioneer who proposed Moore's Law? - correct answers.The observation that computing power roughly doubles every two years at the same price Gordan Moore (Intel co-founder) Briefly explain four key factors causing these disruptions: Moore's Law Be able to explain what Moore's Law says. - correct answers.Every 2 years, the abilities of our electronic devices will double while staying at approximately the same price as time goes on This also means that a device that has a constant amount of abilities or power will be twice as cheap every 2 years Briefly explain four key factors causing these disruptions: Moore's Law Some products only need a small amount of computing power. How does Moore's Law make these products more affordable over time? - correct answers.Cost for CPU has become cheaper and cheaper over the years. Briefly explain four key factors causing these disruptions: Social Media Be able to use one of the statistics about business of social media from the lecture to explain why over 140 million businesses regularly use Facebook to communicate with their customers. - correct answers.The population of people using facebook is 2.4 billion - Facebook in size is just behind China and India Users share their purchases, domino effect (55%) Relationships/Divorces